The Macerich Company [MAC] Chief Accounting Officer makes an insider purchase of 2,000 shares worth 17484.0.

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. The Macerich Company shares valued at $17,484 were sold by Zecchini Christopher J on Sep 20. At $8.74 per share, Zecchini Christopher J sold 2,000 shares. The insider’s holdings dropped to 9,458 shares worth approximately $83041.23999999999 following the completion of this transaction.

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Also, O HERN THOMAS E purchased 11,100 shares, netting a total of over 99,833 in proceeds. Following the buying of shares at $8.99 each, the insider now holds 185,080 shares.

Before that, Healey Doug J had added 2,800 shares to its account. In a trade valued at $24,976, the Senior EVP, Head of Leasing bought The Macerich Company shares for $8.92 each. Upon closing the transaction, the insider’s holdings increased to 2,800 shares, worth approximately $0.6 million.

As published in a research note from Piper Sandler on April 18, 2022, The Macerich Company [MAC] has been rated down from a Neutral to an Underweight and the price target has been revised to $14 from $18. This represents a 37.29% premium over Wednesday’s closing price. Analysts at Piper Sandler upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in early November. As of October 19, 2021, Evercore ISI has increased its “an Underperform” rating to a “an In-line” for MAC. Earlier on July 15, 2021, Jefferies upgraded its rating. Their new recommendation was “a Hold” for MAC stock which previously was a “an Underperform”.

Analyzing MAC’s Price Performance

On Wednesday, The Macerich Company [NYSE: MAC] plunged -0.11% to $8.78. The stock’s lowest price that day was $8.77, but it reached a high of $9.15 in the same session. During the last five days, there has been a drop of approximately -5.39%. Over the course of the year, The Macerich Company shares have dropped approximately -49.19%. Shares of the company reached a 52-week high of $19.18 on 01/05/22 and a 52-week low of $8.42 on 06/30/22. A 50-day SMA is recorded $10.05, while a 200-day SMA reached $13.20. Nevertheless, trading volume fell to 2.72 million shares from 2.25 million shares the previous day.

Support And Resistance Levels for The Macerich Company (MAC)

According to the 24-hour chart, there is a support level at 8.65, which, if violated, would cause prices to drop to 8.52. In the upper region, resistance lies at 9.03. The next price resistance is at 9.28. RSI (Relative Strength Index) is 31.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 89.93%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is The Macerich Company subject to short interest?

Stocks of The Macerich Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.44 million shares to 16.32 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 18.76 million shares. A decline of -14.95% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.78 of the overall float, the days-to-cover ratio (short ratio) decline to 5.78.

Which companies own the most shares of The Macerich Company (MAC)?

According to The Vanguard Group, Inc. filings, the company currently owns 30,313,121 shares, which is about 14.11% of the total MAC shares outstanding. The investor’s shares have appreciated by 493,656 from its previous 13-F filing of 29819465.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $235,904,433. Smead Capital Management, Inc. acquire a 7.03% interest valued at $137.59 million while SSgA Funds Management, Inc. purchased a 43,116 stake. A total of -2,266,818 shares of The Macerich Company were bought by Security Capital Research & Manag during the quarter, and -77,312 were sold by Geode Capital Management LLC. In its current portfolio, Epoch Investment Partners, Inc. holds 3,874,406 shares valued at $37.08 million.

In terms of The Macerich Company share price expectations, FactSet research, analysts set an average price target of $12.00 in the next 12 months, up nearly 30.83% from the previous closing price of $8.79. Analysts anticipate The Macerich Company stock to reach $20.00 by 2022, with the lowest price target being $8.00. In spite of this, 15 analysts ranked The Macerich Company stock as a Hold at the end of 2022. On June 28, 2021, Deutsche Bank assigned a price target of “a Buy” to the stock and upgraded coverage with a $24.


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